q.beyond AG

Welcome, ladies and gentlemen, to the H1 Earnings Call 2026 of QBeyond AG. I would like to welcome the company's CEO Thies Rixen and CFO Nora Wolters, who will guide us through the figures in a moment, followed by a Q&A session with audio line and chat. And with that, I already hand over to you, Mr. Rixen.

Yeah, thank you, Mara. Welcome everybody to the Q2 call. As usual, Nora and myself will present it. I will start with a short introduction and setting the scene and Nora will give you more insights in the Q2 numbers. We called it the accelerated AI transformation. in Q2. So what's the current status? We are better with AI in the AI progress as planned, but still we are, let's say, suffering a weak demand from our clients, from the German or European Mittelstand. Adjusted EBITDA is as previous level if you count the 1,000,000 or 900,000 transformation costs we invested in transferring our service desk to Romania and puts AI technology in it. So we have 2.5 million EBITDA for this free revenue use and a net income of break-even level. For us, I would say it's disappointing. So we planned different numbers and a different performance. And one part is for sure, it's the economy. One part, the other part, it's ourselves. I will come to that later. Good is that we have still a full order book. So we did more order entry in Q2 as last year. roughly 2 million or roughly 10%, but still we are, let's say, We are impacted by last year. We see that we gain new orders, but still the signing is underway. I would say it's getting more and more complicated to get the signature under the contract. But we know what is coming and we know that we have a funnel of 200 million which we will harvest in Q3 and Q4 and we know you know that from our business model that we have stronger stronger numbers especially in Q4 and this will deliver this year also um yeah as we said in the press statement um the um AI let's say impact is on the The positive side is better than we planned. If you look at operations of the managed service business, you see that in the middle of the chart, We automate a lot of workflows, a lot of work, 6,000 hours per month. It's still growing. And this is, right now, it equals to 40 full-time equivalents. And it will be more and more every month. Therefore, we decided to reduce the workforce this year.

We will come to that later on.